STAG Industrial grows same-store cash NOI 3.5%

STAG Industrial reported third-quarter net income of $0.37 per diluted share, up from $0.26 a year earlier, as same-store cash net operating income rose 3.5%, according to its earnings release filed with an 8-K.

The industrial warehouse real estate investment trust reported net income of $70.7 million. Core funds from operations, a measure of recurring cash earnings, were $0.66 per diluted share, up 1.5% from a year earlier.

Same-store growth and acquisitions

Cash net operating income from properties owned in both periods was $159.9 million, up 3.5%, the release said. STAG acquired two buildings totaling 1.1 million square feet for $107.9 million during the quarter.

Management's view

"We expect to deliver another strong operational year while maintaining a healthy balance sheet," President and Chief Executive Bill Crooker said in the release.

Why it matters

STAG owns single-tenant warehouses and light industrial buildings spread across many secondary U.S. markets. Its results are a read on demand for logistics and manufacturing space, which has normalized after a building boom. Steady same-store growth shows tenants are still absorbing rent increases, while acquisitions continue to add to the portfolio.

Sources

1. STAG Industrial, Inc. Form 8-K with third-quarter 2026 results, filed Oct. 27, 2026 (accession 0001479094-26-000032)

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